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"My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a c
by tomcooks 6y ago
"My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel"
Rashid bin Saeed Al Maktoum, Emir of Dubai
- samstave 6y agoI recall that quote. Sadly, while prescient that quote is - he still is (has?) done nothing to mitigate its reality?
- mancerayder 6y agoDubai, as far as I've heard, has no oil left. It's tourism, finance and other industries unrelated. So in that sense haven't they?
- jdhawk 6y agoand shipping, so much shipping
- prepend 6y agoSeems like Dubai has 4 billion barrels of reserves [0]. Not as much as they once did and much less than Abu Dhabi. But still quite a few years worth of oil left. [0] https://en.wikipedia.org/wiki/Oil_reserves_in_the_United_Arab_Emirates https://en.wikipedia.org/wiki/Oil_reserves_in_the_United_Ara...
- ArkVark 6y agoFor the UAE overall crude oil makes up 28% of exports: https://en.wikipedia.org/wiki/Economy_of_the_United_Arab_Emirates#/media/File:United_Arab_Emirates_Exports_Treemap_2017.svg https://en.wikipedia.org/wiki/Economy_of_the_United_Arab_Emi... and Refined petroleum 15% If you want to see an Arab country that has run out of oil, look at Yemen.
- prepend 6y agoMy understanding is that Yemen has lots of reserves at 8 billion barrels [0] but never really produced or imported. So aren’t they a better example of never oil rather than once had oil? [0] https://en.wikipedia.org/wiki/Economy_of_Yemen https://en.wikipedia.org/wiki/Economy_of_Yemen
- grayfaced 6y agoWell he died in 1990, so probably not much he can do. And it's safe to say it's not reality since he has many grandchildren in their 30s. Quotes like this seem to be more of a warning then predictive, and Dubai seems to be trying to diversify. Meanwhile Eisenhower's warning on the military industrial complex has been ignored and seems to be coming true.
- a3n 6y ago> to be coming true. To be coming true? The production of military systems, like fighters and ships, has been spread across the states and counties for decades, to the point that Congress will stuff an unwanted system down the Pentagon's throat to ensure re-election in defense intense districts. And be up front about the reason why!
- hnarn 6y agoWhile I understand the point he's trying to make, I'm not sure I understand how it can be true unless the underlying point is the classical one about how your children will inevitably squander your wealth. Even if your wealth comes from a business that is only temporarily viable, your wealth will persist even if the underlying business does not, if it's conservatively invested. Additionally, rich people have no problem moving around in the world, so there's no need for the "petro-millionares" to remain in a country that is collapsing economically. This quote is obviously meant to convey some sort of wisdom from the Emir, but it doesn't ring true. That anyone beyond the grand son of a hyper-rich individual will be back to square one out of sheer inevitability is a laughable idea.
- mostlysimilar 6y agoIt seems to me to be expressing a point about the nation in general. Sure, he and his family are probably fine for generations. It makes a lot more sense when applied as a trend for the average citizen of the nation.
- hnarn 6y agoThat's my point though, it makes the quote even more disingenuous when you consider the fact that despite using himself as a metaphor for the country, the issue he's describing will not, in fact, affect himself.